Fire your tax related queries and i would get it solved!!!

[magnet]

Hey diosys i think u have answered this question but sorry i cant look right now in all pages as i am busy preparing my sister excel sheet of shares bought and now this doubt have creep up

1:: Say i applied for adani power 200 shares 13000 rs from account on say 1st september 2009
On 14th september 2009 i get refund in account of 6500 saying 100 shares alloted

Now on checking rediff site i see listing date of share as 20th september 2009

SO what is my exact date for share purchase 1st or 14th or 20th? considering i might sell it before 1 year completes?


2:: Also suppose i invested 50k in shares in ayear and sold same the same year for 60k(cutting all stt brokerage on the transaction)
Now i deduct 15% stcg on it that come 1500 .Suppose i fall in tax bracket of 30% than remaining profit of 8500 is further subjected to tax or like Dividend after ddt the remaining amount is not subjected to it (considering i am an investor)
ALso sir can u share from which state u belong ? Because if we are from same place i might file my returns(ofcourse paying :lol with your help seeing your gesture of helping people free here for which i havent seen a single CA doing so

 

[vedpgarg]

I bought a residential plot from HUDA in April 76.

For that plot I paid ...
Rs 7000 in April 76.
Rs 4000 in Sep 77.
Rs 4000 in Sep 78.

I sold the plot in Jan 2010 at the price of 30 Lakhs.

What will be long term capital gain and capital gain tax, leaving aside all the expenses done on the plot.

Thanks a lot

 

[diosys]

Hey diosys i think u have answered this question but sorry i cant look right now in all pages as i am busy preparing my sister excel sheet of shares bought and now this doubt have creep up

1:: Say i applied for adani power 200 shares 13000 rs from account on say 1st september 2009
On 14th september 2009 i get refund in account of 6500 saying 100 shares alloted

Now on checking rediff site i see listing date of share as 20th september 2009

SO what is my exact date for share purchase 1st or 14th or 20th? considering i might sell it before 1 year completes?


2:: Also suppose i invested 50k in shares in ayear and sold same the same year for 60k(cutting all stt brokerage on the transaction)
Now i deduct 15% stcg on it that come 1500 .Suppose i fall in tax bracket of 30% than remaining profit of 8500 is further subjected to tax or like Dividend after ddt the remaining amount is not subjected to it (considering i am an investor)
ALso sir can u share from which state u belong ? Because if we are from same place i might file my returns(ofcourse paying :lol with your help seeing your gesture of helping people free here for which i havent seen a single CA doing so

Not the date of listing or the date of payment is the date of acquisition. It is actually the date the shares got credited to your demat account is the important date since that is the day from which you are holding the shares.

The balance Rs. 8500 would not be taxable further....

As for the balance... Actually i would like to deter with your observation of any CA helping for free... Just check how many times you have called your CA / Lawyer and they have solved your query over the phone ??? Did you pay anything then ?? No....wasnt that free advice ?? Think over it.

The problem with people (esp in India) is that we do not value TIME !!! We only value things which are tangible and since professionals do not give advice in tangible form hence there is no value and it becomes more of a right of the assessee rather than a question!!!

 

[diosys]

I bought a residential plot from HUDA in April 76.

For that plot I paid ...
Rs 7000 in April 76.
Rs 4000 in Sep 77.
Rs 4000 in Sep 78.

I sold the plot in Jan 2010 at the price of 30 Lakhs.

What will be long term capital gain and capital gain tax, leaving aside all the expenses done on the plot.

Thanks a lot

Capital gain would be for 29,05,200 and tax payable would be 5,81,040

 

[magnet]

Hey diosys i think u have answered this question but sorry i cant look right now in all pages as i am busy preparing my sister excel sheet of shares bought and now this doubt have creep up

1:: Say i applied for adani power 200 shares 13000 rs from account on say 1st september 2009
On 14th september 2009 i get refund in account of 6500 saying 100 shares alloted

Now on checking rediff site i see listing date of share as 20th september 2009

SO what is my exact date for share purchase 1st or 14th or 20th? considering i might sell it before 1 year completes?


2:: Also suppose i invested 50k in shares in ayear and sold same the same year for 60k(cutting all stt brokerage on the transaction)
Now i deduct 15% stcg on it that come 1500 .Suppose i fall in tax bracket of 30% than remaining profit of 8500 is further subjected to tax or like Dividend after ddt the remaining amount is not subjected to it (considering i am an investor)
ALso sir can u share from which state u belong ? Because if we are from same place i might file my returns(ofcourse paying :lol with your help seeing your gesture of helping people free here for which i havent seen a single CA doing so

Not the date of listing or the date of payment is the date of acquisition. It is actually the date the shares got credited to your demat account is the important date since that is the day from which you are holding the shares.

The balance Rs. 8500 would not be taxable further....

As for the balance... Actually i would like to deter with your observation of any CA helping for free... Just check how many times you have called your CA / Lawyer and they have solved your query over the phone ??? Did you pay anything then ?? No....wasnt that free advice ?? Think over it.

The problem with people (esp in India) is that we do not value TIME !!! We only value things which are tangible and since professionals do not give advice in tangible form hence there is no value and it becomes more of a right of the assessee rather than a question!!!

AAH that might be a problem since i dont know or how to collect the data from when the shares got credited into my account..as my broker hdfc shows present holding on present date not the date of share getting credited to the account

Regarding CA stuff....Most of the time the chap is not in city and when he is i can enquire just 1 question but here from 1 solution i can ask 2 questions which crop up..lolz

Btw for gk only any chances of getting the data?

 

[diosys]

AAH that might be a problem since i dont know or how to collect the data from when the shares got credited into my account..as my broker hdfc shows present holding on present date not the date of share getting credited to the account

Regarding CA stuff....Most of the time the chap is not in city and when he is i can enquire just 1 question but here from 1 solution i can ask 2 questions which crop up..lolz

Btw for gk only any chances of getting the data?

if you are not able to prove the date when the shares were credited to your account then for utmost clarity and satisfaction take the date of listing as the date of allotment to you (provided you had shares on that day in your demat)....

 

[Nishit_]

Hi,

As this thread is too big I am not able to go throughout the thread. I have simple question how much tax will have to pay as a employee my income is 3LK P.A and from derivative trading I managed to make 2 Lk.

Regards,
Nishit.

 

[diosys]

Hi,

As this thread is too big I am not able to go throughout the thread. I have simple question how much tax will have to pay as a employee my income is 3LK P.A and from derivative trading I managed to make 2 Lk.

Regards,
Nishit.

35000 without 80C deduction

 

[asko]

Some questions regarding ESOP not listed in India.

1. Allotment date - Some say that this is the day when the Company/Board decided to give you shares and some say this is the date when you are added as shareholder of that share in company books i.e. the date you get the stock in the DMAT.

2. Stocks vested/alloted before april 1 2009 but exercised after april 1 2009. The stocks vested before 2009 were subject to FBT and stocks exercised after april 1 2009 are subject taxed as perquisite in hands of employee.

3. What are the implications of currency conversion losses/gains? i.e the day I exercise, i get say 2000$, and the company is TDSing with some exchange rate say 50 INR=1$ and charge me 30000+cess. But by the time i transfer the conversion charge goes down to 49? goes up to 51?

 

[Nishit_]

35000 without 80C deduction

35000 without 80C deduction

Hello,

Thanks . I guess it is like this.
3lk + 2Lk = 5 LK
0-1.5lk = 0 Tax free.
1.5lk-3lk = 1.5lk -- > 15k tax
2lk = earned from market 20 K ?

I heard that income from derivative market is considered as bussiness income then how only 10% Tax will charge on this ?

Regards,
Nishit..